Video - Funding the Fleet: Ottoman Empire's Financial Diplomacy in 1788

In the supply memorandum presented to the sultan by District Governor Meşalecizâde Mustafa Pasha in November 1788, it is stated that 12,000 purses were needed for the expenses of the army, as well as some money was needed for the preparations of the navy that would go to sea due to the approaching spring season, and thus the amount of money needed was approximately 25,000 purses. It was reported that Reisul Küttab asked Reisül Effendi how much money was needed, how much interest was offered, the collateral to be given in return for the capital and interest, and when the repayment would be made, based on the meeting he had with the Dutch ambassador to obtain the money. As understood from the memoirs, Reis Efendi said that 15,000 purses were needed and that it would be more appropriate for the Ambassador to announce the interest rate, and that the other questions asked would be answered later. Following the meeting, in December 1788, the Ottoman government presented a payment plan to the Dutch Ambassador. According to the plan, interest will be paid for three years from the date of receipt of the money, at the end of the three years, six thousand Istanbul bushels of wheat will be paid annually at the current price from each of the 8 Ottoman piers, Yenişehir jizya amounting to more than 900 pouches per year will be paid annually from Thessaloniki, Siroz, Yenişehir and Izmir piers. It was envisaged that the payment would be made in installments by giving some cotton and wool from Thessaloniki at the current price.